Article 50 of the Treaty of the European Union (December 2009) sets out the procedural requirements for a member state to terminate its membership. Legal withdrawal would mean that EU Treaties and their Protocols would no longer apply, and EU financial programmes would be phased out. If the UK votes to leave the EU on Thursday, the result will not immediately have a binding legal effect. The UK government would need to launch a proposal to activate Article 50, and hold a...

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Statement by Werner Hoyer, President of the EIB: “Today is a very sad day for Europe. As President of the European Investment Bank, I take note of the UK vote with the deepest regret, although of course the Bank will work with Member States and other EU institutions to assure an orderly transition to a new negotiated arrangement according to the Treaty. For the first time since the beginning of European integration after the war a country decided to reverse its...

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The country has just taken part in a giant democratic exercise – perhaps the biggest in our history. Over 33 million people – from England, Scotland, Wales, Northern Ireland and Gibraltar – have all had their say. We should be proud of the fact that in these islands we trust the people with these big decisions. We not only have a parliamentary democracy, but on questions about the arrangements for how we are governed, there are times when it is right...

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There are multiple sub-scenarios in the aftermath of a No vote on June 23. In almost all of them, however, London would lose business as a global financial center. Part of its unmatched position as a hub for international financial services is linked to its membership of the European Union and corresponding access to the EU internal market. Non-European banks, especially US ones, use London as a beachhead into the single market, and many euro-area banks centralize their EU...

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The people of the United Kingdom have spoken, and we respect their decision. The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. So too is our relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond. The...

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The British citizens have made their choice to leave our Union. However much we regret this decision, we respect it. The challenges we are facing are too pressing for us to afford any institutional uncertainty. This is why we will move forward on the basis of our shared values and interests and why we will keep working for the security and the well-being of our citizens, for the inclusiveness and the resilience of our societies, and for a more just...

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Joint statement by Donald Tusk, President of the European Council, Martin Schulz, President of the European Parliament, Mark Rutte, holder of the rotating Presidency of the Council of the EU, and Jean-Claude Juncker, President of the European Commission, on the outcome of the United Kingdom referendum President Tusk, President Schulz and Prime Minister Rutte met this morning in Brussels upon the invitation of European Commission President Juncker. They discussed the outcome of the United Kingdom referendum and made the following...

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European Central Bank is closely monitoring financial markets ECB continues to fulfil its responsibilities to ensure price stability and financial stability in the euro area Following the outcome of the UK referendum, the European Central Bank (ECB) is closely monitoring financial markets and is in close contact with other central banks. The ECB stands ready to provide additional liquidity, if needed, in euro and foreign currencies. The ECB has prepared for this contingency in close contact with the banks that it supervises and...

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There's no hiding the fact that we wanted a different outcome of yesterday's referendum. I am fully aware of how serious, or even dramatic, this moment is politically. And there's no way of predicting all the political consequences of this event, especially for the UK. It is a historic moment but for sure not a moment for hysterical reactions. I want to reassure everyone that we are prepared also for this negative scenario. As you know the EU is...

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What is crucial to create a smart Europe? This question framed the first day of the European conference Industrial Technologies 2016, Wednesday 22 June in Amsterdam. The world is changing rapidly and we need to come out of our comfort zone to make our factories future proof. It’s eat or be eaten. With this message opened Ineke Dezentjé Hamming-Bluemink, chair of FME and president of CEEMET, the conference. Pan-European policy All keynote speakers underlined the importance of a pan-European policy to...

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